Fundamentals Of Engineering Economics And Decision Analysis

The authors cover two general topics: basic engineering economics and risk analysis in this text. Within the topic of engineering economics are discussions on the time value of money and interest relationships. These interest relationships are used to define certain project criteria that are used by engineers and project managers to select the best economic choice among several alternatives. Projects examined will include both income- and service-producing investments. The effects of escalation, inflation, and taxes on the economic analysis of alternatives are discussed. Risk analysis incorporates the concepts of probability and statistics in the evaluation of alternatives. This allows management to determine the probability of success or failure of the project. Two types of sensitivity analyses are presented. The first is referred to as the range approach while the second uses probabilistic concepts to determine a measure of the risk involved. The authors have designed the text to assist individuals to prepare to successfully complete the economics portions of the Fundamentals of Engineering Exam. Table of Contents: Introduction / Interest and the Time Value of Money / Project Evaluation Methods / Service Producing Investments / Income Producing Investments / Determination of Project Cash Flow / Financial Leverage / Basic Statistics and Probability / Sensitivity Analysis

The authors cover two general topics: basic engineering economics and risk analysis in this text. Within the topic of engineering economics are discussions on the time value of money and interest relationships. These interest relationships are used to define certain project criteria that are used by engineers and project managers to select the best economic choice among several alternatives. Projects examined will include both income- and service-producing investments. The effects of escalation, inflation, and taxes on the economic analysis of alternatives are discussed. Risk analysis incorporates the concepts of probability and statistics in the evaluation of alternatives. This allows management to determine the probability of success or failure of the project. Two types of sensitivity analyses are presented. The first is referred to as the range approach while the second uses probabilistic concepts to determine a measure of the risk involved. The authors have designed the text to assist individuals to prepare to successfully complete the economics portions of the Fundamentals of Engineering Exam. Table of Contents: Introduction / Interest and the Time Value of Money / Project Evaluation Methods / Service Producing Investments / Income Producing Investments / Determination of Project Cash Flow / Financial Leverage / Basic Statistics and Probability / Sensitivity Analysis

Fundamentals of Engineering Economic Analysis offers a powerful, visually-rich approach to the subject—delivering streamlined yet rigorous coverage of the use of economic analysis techniques in engineering design. This award-winning textbook provides an impressive array of pedagogical tools to maximize student engagement and comprehension, including learning objectives, key term definitions, comprehensive case studies, classroom discussion questions, and challenging practice problems. Clear, topically—organized chapters guide students from fundamental concepts of borrowing, lending, investing, and time value of money, to more complex topics such as capitalized and future worth, external rate of return, deprecation, and after-tax economic analysis. This fully-updated second edition features substantial new and revised content that has been thoroughly re-designed to support different learning and teaching styles. Numerous real-world vignettes demonstrate how students will use economics as practicing engineers, while plentiful illustrations, such as cash flow diagrams, reinforce student understanding of underlying concepts. Extensive digital resources now provide an immersive interactive learning environment, enabling students to use integrated tools such as Excel. The addition of the WileyPLUS platform provides tutorials, videos, animations, a complete library of Excel video lessons, and much more.

For Engineering Economics courses, found in departments of Industrial, Civil, Mechanical, and Electrical Engineering. New from the author of the best-selling Contemporary Engineering Economics text, Fundamentals of Engineering Economics offers a concise, but in-depth coverage of all fundamental topics of Engineering Economics.

An easy-to-follow contemporary engineering economics text that helps making sound economic decisions without advanced mathematics. This one-semester introduction to the fundamentals of engineering economics provides an overview of the basic theory and mathematics underlying operational business decisions that engineering technology, engineering, and industrial technology students will face in the workplace. A basic knowledge of economics empowers a manager to balance costs with production. This new edition of Fundamentals of Economics for Engineering Technologists and Engineers is written in plain language. Concepts have been simplified and kept straightforward with an emphasis on "how to apply" economic principles. Practical examples as a tool for managing business data and giving detailed analysis of business operations. throughout the text make good use of Microsoft Excel templates, provided on the book’s companion website, for students. Chapter-end exercises provide discussion and multiple-choice questions along with numerical problems, and a solutions manual and instructor resources is given for adopting instructors.

In today's rapidly changing global economy, business managers must have the tools and know-how to quickly evaluate the economic viability of potential solutions to engineering problems. An entire field of study has evolved to meet this need, yet there are few straightforward texts that outline the basics of engineering economics. Fundamentals of Engineering Economics is an accessible, comprehensive guide to the fundamental principles, concepts, and methods of engineering economics. Utilizing detailed case studies and exercises reflecting current trends and issues in economics, this book introduces students to a variety of key concepts, including estimation of the time value of money, evaluation of a single project, decision analysis, depreciation and taxes. This is an ideal textbook for Economic Analysis and Technical Applications students, or anyone seeking to gain an understanding of the core concepts of engineering economics. Fundamentals of Engineering Economics is organized into the following topical chapters: - Overview of Engineering Economy - Fixed and Variable Costs - Time Worth of Money - Five Methods for Evaluation of Capital Project - Comparison of Alternates and Decision Analysis - Depreciation and Replacement Analysis - Taxes, Tariffs, and Duties - Public Sector Initiatives and Benefit-to-Cost Ratio - Break-Even Analysis and Spider Plots Kal Renganathan Sharma serves as Adjunct Professor of Chemical Engineering at the Roy G. Perry College of Engineering at Prairie View A&M University. He received his B.Tech. from the Indian Institute of Technology (1985, Chennai, India) and his MS and Ph.D degrees from West Virginia University (1987, 1990, Morgantown, WV). All three degrees are in chemical engineering. Dr. Sharma is the author of 10 books, 4 book chapters, 21 journal articles, 528 conference papers and 108 other presentations. He is the recipient of several prestigious honors and awards, including the Outstanding Student of the Penultimate Year from the Rev. Brothers of St. Gabriel at RSK Higher Secondary School (Trichy, India) and an Honorary Fellowship from the Australian Institute of High Energetic Materials (Melbourne, Australia).

The rise of the information age and the digital economy has dramatically changed engineering and other technology-driven fields. With tremendous advances in computing and communication systems, major organizational upheavals, all fueled by complexity, globalization, short cycle times, and lean supply chains, the functions of engineers have significantly changed. Engineers and similar professionals must be technically savvy and have product management and costing skills all while working in a distributed and often unstable environment. This new-edition textbook is updated to cover the integration of cost, risk, value, scheduling, and informationtechnologies going beyond basic engineering economics. Engineering Economics of Life Cycle Cost Analysis, Second Edition, offers a systems and life cycle or total ownership cost perspective. It presents advanced costing techniques such as simulation-based costing, decision and risk analysis, complex systemscosting, software, big data, and cloud computing estimation. Examples and problems demonstrating these techniques with real-world applications are also included. All engineers and similar professionals will find this book useful, but it is mainly written for systems engineers, engineering managers, program/product managers, and industrial engineers. The text can serve as a professional reference or for use with graduate courses on advanced engineering economic analysis and cost management, and financial analysis for engineers.

For undergraduate, introductory courses in Engineering Economics. This text presents engineering economy in the context of a decision-making framework such that the student understands the necessary tools and their application. It begins with an introduction to the basics of engineering economy (interest, time-value-of-money, and equivalence), then explores the entire decision-making process, from defining the problem through post-implementation analysis, just as one would when building a case for management in order to make a capital investment decision.